topic Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me in General Credit Topics

My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Thu, 27 Dec 2007 11:40:43 GMT

Dear FICO friends: I have been lurking and learning from this site for many months now. I am actively looking to buy a home and using a lot of the advice here I added over 30 points to my credit score by reducing credit card debt. My scores reached the high 790 to over 800 from all three credit bureaus until now. During the last few days I received a credit alert that a derogatory item was posted to my credit report. I was in horror as to my knowledge all of my bills were current. I pay everything off each month and keep detailed track of all of my expenses. Of course I ran my FICO report and to my dismay, both TU and Equifax had a open collection for a $100 item from the District of Columbia. Experian did not. This one $100 item dropped my scores more than 130 points to the 670s! I had no idea what this was about as I had no notice, never received a phone call, no bill,nothing about this. I immediately (on Christmas eve) filed a dispute. I began googling the collection company and found others with the same experience - derogatory items with no notice - apparently for parking tickets in DC. I called the DMV and they told me that I had a 2005 speeding ticket (10 miles over) from a traffic camera. I had absolutely no knowledge and the ticket went to an address that I have not lived at since 2001. I don't even live in DC. The collection company NEVER CALLED, NEVER WROTE, NOTHING!!! and now they have ruined by 17 year credit history and my home buying hopes. I am so desperate, how can they do this if I had no knowledge? Can they? If anyone can give me advice I will tremendously appreciate it. I cannot sleep and am at my wits end. Please help.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Red1Blue — Thu, 27 Dec 2007 12:09:31 GMT

I think you can try to dispute the ticket with the court and see if Judge can throw away the ticket. Some times they do. Also you can check with the prosecutors office and see if they would be willing to remove the ticket. Any way it can be done some how, check with your local atty and also see if he/she can share any suggestions to you. I understand your feelings and it does hurt to see such a score drop after working so hard to reach that level. Good Luck and keep us posted as to how you make out.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

marty56 — Thu, 27 Dec 2007 12:15:39 GMT

I am not an expert on collections but many people here haver experience in dealing with CAs. The process starts with a DV and then a PFD or a GW letter.

I would also contact the DMV to find out more information from them like what address they have for you and bounce that with what address you were at the time they said you were speeding. I dont know if the DMV can or will settle with you and remove the collection once they have sent it to a a CA

As far as your credit history goes, I had much lower scores and was able to get a mortgage This is worst case. You should also post in the mortgage area so Shane the Mortgage guy can give you advice. Don't dispair or give up. Do everything you can to get this removed and there are many people here who can give you much better advice and who have been in your situation before. I am sure they will chime in here.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Thu, 27 Dec 2007 12:22:32 GMT

As you already started your dispute- Get a DV to the CA ASAP- I would send it overnight mail.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Thu, 27 Dec 2007 13:18:51 GMT

Thanks to everyone for responding. I looked for a sample of a DV letter and will send one asap. Question: should I not pay it while the dispute and DV is in process? Will that jeopardize my ability to have it removed completely? Thanks again.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Thu, 27 Dec 2007 13:53:25 GMT

Start with this 1-2 punch (DV and disute at the same time)

they sre already in violation as they did not notify you in the "5 days of intial communication"

If the 1-2 punch does not work a PFD will be in order.

@Anonymous wrote:
Thanks to everyone for responding. I looked for a sample of a DV letter and will send one asap. Question: should I not pay it while the dispute and DV is in process? Will that jeopardize my ability to have it removed completely? Thanks again.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Sun, 30 Dec 2007 03:59:12 GMT

Hi Claire,

Tim is right! They hit me too!!! First this company appeared on my Transunion acccount. I figured it was something from DC so I disputed it. It came off my report. I never heard from anyone! Then a month or so later they appeared on my Experian report. Of course AMEX is watching my credit reports and now I am sure they will report this crap to Exquifax in due time.

I was prepared to due a PFD letter to the CA since I received a letter finally from them. But I did NOT receive this letter before they posted to my credit report. The later came AFTER they had already reported to Experian. From what I read they broke the law in doing this. I made sure I pointed that out in my DV letter I sent last week.

I was willing to pay for the debt just to get rid of it. I don't even know if it's mine! All I know is $200 bucks is not worth me messing up my credit but it's too late. AMEX reduce one of my credit lines because of collection account, got the letter from them this week!!!!!! This is a collection account now thanks to DC!

Good luck

This company is doing major damage.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Sun, 30 Dec 2007 11:52:38 GMT

Ragcajun:

Thanks for the feedback. It seems that there are so many people being affected by this company and the stories are all the same- no notification whatsoever. I have disputed and followed Tim's advice to send a DV letter, and I am hoping - as I'm sure you are that this goes away- but to telll the truth, I am very concerned that it will not. It's one thing if I knew about the ticket - I would have gladly paid it. But I had no idea and no notice and now my credit may be very well ruined for the next seven years -all for $100. By the way, I did read somewhere that Equifax does not report tickets/library fines. etc because the treatment is not consistent in all states. I don't know how true it is. But do the CRAs exercise any professional judgement whatsoever? It all seems too unbelievable and I am terribly upset. I read some accounts on other sites that DC refused to remove the item even when it was paid. It just makes no sense for DC to want the situation handled in this manner. They are ruining the credit of individuals who could be investors/homebuyers/etc. over minor items.

I called Amex and my other major credit card companies and told them I was disputing the item, but I guess I will see what impact it will have once the responses to the dispute and DV letter start coming in. Please keep me posted on your situation and good luck to us all.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Sun, 30 Dec 2007 15:35:03 GMT

Somewhere in all my reading (I think it is an FTC white paper) - they can place on your credit BEFORE contacting you - however once you DV - they can't continue collection activity until they answer ( they do not have to remove they just can't update it). If they fail to answer then you can force removal via FTC, state AG etc or force an aswer.

Use DC's system against them - http://dmv.dc.gov/serv/ticket/parking_contesttix.shtm since you never had the 30 days to pay becasue they sent it to the wrong address (be able to prove where you lived and that that address was current on your car and license) - that you now want your 30 days and just pay it. Enfore your rights to have it removed because of their error in notifying you.

Message Edited by Lady_Scarlet on 12-30-2007 10:25 AM

Message Edited by Lady_Scarlet on 12-30-2007 10:35 AM

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

fishbjc — Sun, 30 Dec 2007 15:31:39 GMT

Claire, you should have no problems getting a mortgage! All my mtg company required for a collection was that I provided them with a paid receipt. Like you, I was surprised to see a $50 medical collection from Kaiser. I paid it, of course, and the loan went through with no problems.

God only knows what's going to pop onto our credit reports. This CA is slime all the way!

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Anonymous — Mon, 31 Dec 2007 01:45:42 GMT

You scared me. I live in DC and just logged on to pay $185 in old parking tickets.

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Gigi77 — Tue, 01 Jan 2008 17:17:00 GMT

This is what worked for me- took three weeks to delete:

1. Send DV letter to CA (Prof. Account Mangmnt)
2. Dispute with cra ( They only used experian for me). Disputed both online and with fax, which included copy of the DV letter.

You shouldn't need an attorney or court for this.

Message Edited by Gigi77 on 01-01-2008 09:17 AM

Re: My score has dropped over 100 points! I am desperate and hoping that someone can help me

Gigi77 — Tue, 01 Jan 2008 17:15:35 GMT

BTW- everybody will say you need to send your dv letter certified mail- I faxed mine, saved the fax confirmation sheet.

I also faxed the cra dispute and cc'd them on the dv letter and the dv fax confirmation. I personally think certified DV letter will take too long... I faxed both letters 12/6... today Experian sent me email saying it was deleted.